Vodafone announces bid for Wayfinder

Vodafone announces bid for Wayfinder

December 9, 2016

Vodafone, the world’s biggest mobile service provider by sales, announced today that it has submitted a cash takeover bid for Swedish wireless navigation device company, Wayfinder.

Vodafone’s offer, of 12 Swedish kronor per share, values Wayfinder at 239 million kronor ($30 million), and represents a 253% premium on Wayfinder’s closing stock price yesterday of 3.4 kronor per share.

With the European mobile phone market saturated, Vodafone is starting to look for new ways to increase revenue, and purchasing Wayfinder would put Vodafone firmly in the direction of increasing revenue through mobile data sales.

Vodafone also believes that integrating Wayfinder software into customer handsets would help it attract and retain customers.

Wayfinder software displays user-friendly maps on mobile phones, and gives voice directions to drivers.

Vodafone is banking on its belief that customers will value being able to get accurate voice directions and maps direct from their mobile phone.

The takeover bid is backed by Wayfinder’s management, and Vodafone said it has already secured the backing of shareholders holding 44.9% of Wayfinder stock.

Tim Yeo

Related Posts

Mongolian telecom selects Altobridge for rural GSM contract

Comments Off on Mongolian telecom selects Altobridge for rural GSM contract

Actix Boosts Insight Performance with Real-Time Data

Comments Off on Actix Boosts Insight Performance with Real-Time Data

Actix prevents mobile operators from ‘flying blind’ with LTE

Comments Off on Actix prevents mobile operators from ‘flying blind’ with LTE

iPhone 2.0 to be unveiled today

Comments Off on iPhone 2.0 to be unveiled today

Orange selects Ad Infuse for mobile marketing

Comments Off on Orange selects Ad Infuse for mobile marketing

Ofcom to review code of conduct for mobile content

Comments Off on Ofcom to review code of conduct for mobile content

Mixed Signals launches real-time TV error monitor

Comments Off on Mixed Signals launches real-time TV error monitor

Nokia 6210 in stormy Far East waters

Comments Off on Nokia 6210 in stormy Far East waters

ISPs make “far fetched” speed claims

Comments Off on ISPs make “far fetched” speed claims

Top 10 Broadband scoops A4U award

Comments Off on Top 10 Broadband scoops A4U award

Macworld names MacAce.net ‘Best ISP’

Comments Off on Macworld names MacAce.net ‘Best ISP’

Indian government announces global 3G auction

Comments Off on Indian government announces global 3G auction

Create Account



Log In Your Account